Hong Kong SAR, China: Coconut Market 2024

Coconut Market Size in Hong Kong SAR, China

The Hong Kong coconut market shrank modestly to $X in 2022, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Coconut Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of coconuts decreased by -67.4% to X tons, falling for the fourth consecutive year after seven years of growth. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 169% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, coconut exports dropped markedly to $X in 2022. Over the period under review, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 241% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for coconut exports from Hong Kong SAR, accounting for a 69% share of total exports. Moreover, coconut exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to China stood at +6.8%.

In value terms, China ($X) and Macao SAR ($X) were the largest markets for coconut exported from Hong Kong SAR worldwide.

In terms of the main countries of destination, Macao SAR, with a CAGR of +17.5%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, rising by 27% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut export price decreased by -8.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 35%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.6%).

Coconut Imports

Imports into Hong Kong SAR, China

In 2022, the amount of coconuts imported into Hong Kong SAR dropped notably to X tons, reducing by -38.4% compared with the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 95%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, coconut imports reduced sharply to $X in 2022. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 139% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest coconut supplier to Hong Kong SAR, with a 87% share of total imports. Moreover, coconut imports from Thailand exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+0.6% per year) and Vietnam (-21.9% per year).

In value terms, Thailand ($X) constituted the largest supplier of coconuts to Hong Kong SAR, comprising 90% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 5.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Thailand totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+4.1% per year) and Vietnam (-10.8% per year).

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut import price decreased by -14.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 54% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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